

*********************************************************
* Regressions Tables 3, 4, 5, 6, 7, 8
*********************************************************
clear all
set more off
use "${file}sine_panel.dta", clear

// define regression sample
reghdfe FINV4 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_*  ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
, cluster(ape4) absorb(apey4 dep)
gen sample=e(sample)


**********************************************************
* TABLE 3 - FINANCING GAP
**********************************************************
eststo clear

reghdfe FINV4 FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_1
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

reghdfe VC FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_2
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

reghdfe FINVEXT FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_3
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

reghdfe FINV1 FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_4
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

reghdfe FINV2 FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_5
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

reghdfe FINV3 FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_6
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

reghdfe FINV5 FEMALE AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_7
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd ysumm, mean

esttab  f_1 f_2 f_3 f_4 f_5 f_6 f_7 /*
*/ using "${output}table_financing_gap.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(year geo cap r2 N ymean, fmt(0 0 0 %9.3fc %9.0fc %9.4fc) /*
*/ labels(`"Sector $\times$ Cohort-year FE"' `"County FE"' `"Startup capital FE"' `"R^{2}"' `"N"' `"Mean dep. var."')) 


**********************************************************
* TABLE 4 - PANEL A - STEREOTYPES FINANCING 
**********************************************************
eststo clear

reghdfe FINV4 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_1
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe VC FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_2
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local controls "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINVEXT FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_3
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local controls "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV1 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_4
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local controls "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV2 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_5
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local controls "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV3 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_6
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV5 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_7
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local controls "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

esttab  f_1 f_2 f_3 f_4 f_5 f_6 f_7 /*
*/ using "${output}table_financing_stereotypes.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(hc startup cap motiv year geo r2 N ymean, fmt(0 0 0 0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`"Founders controls"' `"Startup characteristics"' /*
*/   `"Startup capital"' `"Motivations"' /*
*/ `" Sector $\times$ Cohort-year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ keep(FEMALE nf4crea) 

**********************************************************
* TABLE 4 - PANEL B - STEREOTYPES FINANCING  with Hard information 
**********************************************************
eststo clear

reghdfe FINV4 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_1
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe VC FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_2
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINVEXT FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_3
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV1 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_4
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV2 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_5
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV3 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_6
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV5 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
lnasset tangible  ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store f_7
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

esttab  f_1 f_2 f_3 f_4 f_5 f_6 f_7 /*
*/ using "${output}table_stereotypes_hardinfo.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(hc year geo r2 N ymean, fmt(0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`"Founder and Startup characteristics"'  /*
*/ `" Sector $\times$ Cohort-year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ order(FEMALE nf4crea  lnasset tangible) /*
*/ keep(FEMALE nf4crea lnasset tangible)


*************************************************************************
* TABLE 5 - STEREOTYPES THRESHOLDS
*************************************************************************
capture drop naf4d* 
capture drop NAF4_crea_0 NAF4_crea_1 NAF4_crea_2 NAF4_crea_3 NAF4_crea_8
gen NAF4_crea_0 = (NAF4_crea_f<=0.20)
gen NAF4_crea_1 = (NAF4_crea_f<=0.40&NAF4_crea_f>0.2)
gen NAF4_crea_2 = (NAF4_crea_f<=0.60&NAF4_crea_f>0.4)
gen NAF4_crea_3 = (NAF4_crea_f<=0.80&NAF4_crea_f>0.6)
gen NAF4_crea_4 = (NAF4_crea_f<=0.50&NAF4_crea_f>0.4)
gen NAF4_crea_5 = (NAF4_crea_f<=0.60&NAF4_crea_f>0.5)
gen NAF4_crea_6 = (NAF4_crea_f<=0.70&NAF4_crea_f>0.6)
gen NAF4_crea_7 = (NAF4_crea_f<=0.80&NAF4_crea_f>0.7)
gen NAF4_crea_8 = (NAF4_crea_f>0.8)

gen NAF4_crea_buckets=0 if NAF4_crea_0
replace NAF4_crea_buckets=1 if NAF4_crea_1
replace NAF4_crea_buckets=2 if NAF4_crea_4
replace NAF4_crea_buckets=3 if NAF4_crea_5
replace NAF4_crea_buckets=4 if NAF4_crea_6
replace NAF4_crea_buckets=5 if NAF4_crea_7
replace NAF4_crea_buckets=6 if NAF4_crea_8
tab NAF4_crea_buckets

gen naf4d1=FEMALE*NAF4_crea_1
label var naf4d1 "Female $\times$ Sector ]20-40]\% Female-founded"
gen naf4d2=FEMALE*NAF4_crea_2
label var naf4d2 "Female $\times$ Sector ]40-60]\% Female-founded"
gen naf4d3=FEMALE*NAF4_crea_3
label var naf4d3 "Female $\times$ Sector ]60-80]\% Female-founded"
gen naf4d4=FEMALE*NAF4_crea_4
label var naf4d4 "Female $\times$ Sector ]40-50]\% Female-founded"
gen naf4d5=FEMALE*NAF4_crea_5
label var naf4d5 "Female $\times$ Sector ]50-60]\% Female-founded"
gen naf4d6=FEMALE*NAF4_crea_6
label var naf4d6 "Female $\times$ Sector ]60-70]\% Female-founded"
gen naf4d7=FEMALE*NAF4_crea_7
label var naf4d7 "Female $\times$ Sector ]70-80]\% Female-founded"
gen naf4d8=FEMALE*NAF4_crea_8
label var naf4d8 "Female $\times$ Sector $>$80\% Female-founded"

eststo clear

reghdfe FINV4 FEMALE naf4d1 naf4d2 naf4d3 naf4d8 ///
AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
if sample, cluster(ape4) absorb(apey dep)
estimates store a_1
estadd local sec "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd ysumm, mean

reghdfe FINV4 FEMALE naf4d1 naf4d4 naf4d5 naf4d6 naf4d7 naf4d8 ///
AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
if sample, cluster(ape4) absorb(apey dep)
estimates store a_2
estadd local sec "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd ysumm, mean

gen naf4c=FEMALE*NAF4_crea_f
label var naf4c "Female $\times$ Sector's \% Female-founded"
label var NAF4_crea_f "Sector's \% Female-founded firms"

reghdfe FINV4 FEMALE NAF4_crea_f  naf4c AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM INOV_SUM B2B GEOCLIA MOYENS_* ///
if sample, cluster(ape4) absorb(YEAR dep)
estimates store a_3
estadd local sec "No"
estadd local year "Yes"
estadd local geo "Yes"
estadd ysumm, mean

reghdfe FINV4 FEMALE APE2_INOVF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM INOV_SUM B2B GEOCLIA MOYENS_* ///
if sample, cluster(ape4) absorb(apey dep)
estimates store a_4
estadd local sec "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd ysumm, mean

esttab a_1 a_2 a_3 a_4  /*
*/ using "${output}table_streteotypes_threshold.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(sec year geo r2 N ymean, fmt(0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`" Sector $\times$ Cohort-year FE"' `"Year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ order(FEMALE  naf4d1 naf4d2 naf4d3 naf4d4 naf4d5 naf4d6 naf4d7 naf4d8  NAF4_crea_f naf4c APE2_INOVF) /*
*/ keep(FEMALE naf4d1 naf4d2 naf4d3 naf4d4 naf4d5 naf4d6 naf4d7 naf4d8 NAF4_crea_f naf4c APE2_INOVF) 


*************************************************************************
* TABLE 6 - OMITTED VARIABLES (OSTER'S TEST)
*************************************************************************
set more off
eststo clear

reg FINV4 FEMALE if sample, robust
estimates store a_1
estadd local year "No"
estadd local geo "No"
estadd local hc "No"
estadd local startup "No"
estadd local bm "No"
estadd local cap "No"
estadd local motiv "No"
estadd ysumm, mean

reghdfe FINV4 FEMALE  if sample, cluster(ape4) absorb(apey4 dep) 
estimates store a_2
estadd local year "Yes"
estadd local geo "Yes"
estadd local hc "No"
estadd local startup "No"
estadd local hg "No"
estadd local motiv "No"
estadd local bm "No"
estadd local cap "No"
estadd ysumm, mean

reghdfe FINV4 FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store a_3
estadd local year "Yes"
estadd local geo "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local cap "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reg VC FEMALE  if sample, robust
estimates store b_1
estadd local year "No"
estadd local geo "No"
estadd local hc "No"
estadd local startup "No"
estadd local bm "No"
estadd local cap "No"
estadd local motiv "No"
estadd ysumm, mean

reghdfe VC FEMALE  if sample, cluster(ape4) absorb(apey4 dep) 
estimates store b_2
estadd local year "Yes"
estadd local geo "Yes"
estadd local hc "No"
estadd local startup "No"
estadd local hg "No"
estadd local motiv "No"
estadd local bm "No"
estadd local cap "No"
estadd ysumm, mean

reghdfe VC FEMALE nf4crea AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample, cluster(ape4) absorb(apey4 dep)
estimates store b_3
estadd local year "Yes"
estadd local geo "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local bm "Yes"
estadd local cap "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

esttab a_1 a_2 a_3 b_1 b_2 b_3  /*
*/ using "${output}table_oster_reg.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(hc startup bm cap motiv year geo r2 N ymean, fmt(0 0 0 0 0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`"Human capital"' `"Startup characteristics"' /*
*/   `"Business model"' `"Startup capital"' `"Motivations"'    /*
*/ `" Sector $\times$ Cohort-year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ keep(FEMALE) 

* Use FEMALE coefficients of Panel A to fill in the attached Excel calculator file (Table 6_.Oster test.xlsx)


***************************************************************************
* TABLE 7 - PANEL A - EXTERNAL EQUITY & INTERRACTIONS WITH CHARACTERISTICS
***************************************************************************
// sample : male-dominated sectors only --> condition "if NAF4_crea_d5==0"

eststo clear
* serial
reghdfe FINV4 FEMALE SERIAL SERIALF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_1
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
* experience
reghdfe FINV4 FEMALE EXPERT EXPF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_2
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
*incorporated
reghdfe FINV4 FEMALE INC INCF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT DIRIGA SERIAL OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_3
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
* team
reghdfe FINV4 FEMALE DIRIGA DIRIGAF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_4
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
* innovation
reghdfe FINV4 FEMALE INOV_SUM FINOV AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_5
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
* objectif
reghdfe FINV4 FEMALE OBJECTIF OBJF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC  INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_6
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
* optimistic
reghdfe FINV4 FEMALE EA1_opt_var EA1F AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_7
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean
*children
reghdfe FINV4 FEMALE ENF ENFF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO SERIAL EXPERT DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_8
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

esttab c_1 c_2 c_3 c_4 c_5 c_6 c_7 c_8 /*
*/ using "${output}table_interraction_equity.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(hc startup cap motiv year geo r2 N ymean, fmt(0 0 0 0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`"Founders controls"' `"Startup characteristics"' /*
*/   `"Startup capital"' `"Motivations"' /*
*/ `" Sector $\times$ Cohort-year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ order(FEMALE SERIALF EXPF INCF DIRIGAF OBJF FINOV EA1F EA1_opt_var ENFF ENF  SERIAL EXPERT INC DIRIGA OBJECTIF INOV_SUM ) /*
*/ keep(FEMALE SERIALF EXPF INCF OBJF FINOV EA1F EA1_opt_var DIRIGAF ENF ENFF SERIAL EXPERT INC OBJECTIF INOV_SUM DIRIGA ) 

// Figures Appendix 
* Equity
eststo clear
reghdfe FINV4 AGED NATIOA1 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM ///
B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0&FEMALE==0,  cluster(ape4) absorb(apey4 dep)
estimates store Male

reghdfe FINV4 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM ///
B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0&FEMALE==1,  cluster(ape4) absorb(apey4 dep)
estimates store Female

coefplot (Male, label(Male entrepreneurs) color(blue*2.5)) (Female, label(Female entrepreneurs) pstyle(p4)), drop(_cons MOYENS_* EDUC2 B2B GEOCLIA GRANDEECO NATIOA1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6) xline(0) ciopts(recast(rcap)) graphregion(color(white)) title("Figure A: External Equity") 
graph export "${output}/coeffplot_equity.eps", replace 

* Bank loans
eststo clear
reghdfe FINV1 AGED NATIOA1 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM ///
B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0&FEMALE==0,  cluster(ape4) absorb(apey4 dep)
estimates store Male

reghdfe FINV1 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM ///
B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0&FEMALE==1,  cluster(ape4) absorb(apey4 dep)
estimates store Female

coefplot (Male, label(Male entrepreneurs) color(blue*2.5)) (Female, label(Female entrepreneurs) pstyle(p4)), drop(_cons MOYENS_* EDUC2 B2B GEOCLIA GRANDEECO NATIOA1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6) xline(0) ciopts(recast(rcap)) graphregion(color(white)) title("Figure B: Corporate Bank Debt")
graph export "${output}/coeffplot_bankloans.eps", replace 


***************************************************************************
* TABLE 7 - PANEL B - OTHER FINANCING & INTERRACTIONS WITH CHARACTERISTICS
***************************************************************************
// sample : male-dominated sectors only --> condition "if NAF4_crea_d5==0"
gen HG= (INOV_SUM&INC&OBJECTIF) if !missing(INOV_SUM)&!missing(OBJECTIF)&!missing(INC)
gen HGF=FEMALE*HG
label var HG "High-growth, innovative, incorporated startup"
label var HGF "HII startup $\times$ Female"

eststo clear
* Bank loans
reghdfe FINV1 FEMALE SERIAL SERIALF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_1
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV1 FEMALE HG HGF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_2
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* Personal debt
reghdfe FINV2 FEMALE SERIAL SERIALF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_3
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV2 FEMALE HG HGF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_4
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* Subsidized debt
reghdfe FINV3 FEMALE SERIAL SERIALF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_5
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV3 FEMALE HG HGF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_6
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* Grants
reghdfe FINV5 FEMALE SERIAL SERIALF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_7
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

reghdfe FINV5 FEMALE HG HGF AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INC OBJECTIF INOV_SUM B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if sample&NAF4_crea_d5==0,  cluster(ape4) absorb(apey4 dep)
estimates store c_8
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

esttab c_1 c_2 c_3 c_4 c_5 c_6 c_7 c_8 /*
*/ using "${output}table_interraction_otherfi.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(hc startup cap motiv year geo r2 N ymean, fmt(0 0 0 0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`"Founders controls"' `"Startup characteristics"' /*
*/   `"Startup capital"' `"Motivations"' /*
*/ `" Sector $\times$ Cohort-year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ order(FEMALE SERIALF HG HGF  SERIAL) /*
*/ keep(FEMALE SERIALF HGF HG SERIAL) 


*******************************************
* TABLE 8 - SUBSTITUTION EXTERNAL EQUITY
*******************************************
label var FINV3 "Subsidized loans"
label var FFINV3 "Subsidized loans $\times$ Female"

// Columns 1 to 4: sample = All startups in male-dominated sectors "if NAF4_crea_d5==0"

eststo clear
* bank loans
reghdfe FINV4 FEMALE FINV1 FFINV1 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INOV_SUM OBJECTIF INC B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample, cluster(ape4) absorb(apey4 dep)
estimates store f_1
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* personal debt
reghdfe FINV4 FEMALE FINV2 FFINV2 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INOV_SUM OBJECTIF INC B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample, cluster(ape4) absorb(apey4 dep)
estimates store f_2
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* subsidized debt
reghdfe FINV4 FEMALE FINV3 FFINV3 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INOV_SUM OBJECTIF INC B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample, cluster(ape4) absorb(apey4 dep)
estimates store f_3
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* grants
reghdfe FINV4 FEMALE FINV5 FFINV5 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA INOV_SUM OBJECTIF INC B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample, cluster(ape4) absorb(apey4 dep)
estimates store f_4
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean


// Columns 5 to 8: sample = Conditional on growth potential
// sample : male-dominated sectors only + startups with growth potential (=innovative&incorporated&growth-riented) -->"if NAF4_crea_d5==0&INOV_SUM&INC&OBJECTIF"

* bank loans
reghdfe FINV4 FEMALE FINV1 FFINV1 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample&INOV_SUM&INC&OBJECTIF, cluster(ape4) absorb(apey4 dep)
estimates store f_5
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* personal debt
reghdfe FINV4 FEMALE FINV2 FFINV2 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample&INOV_SUM&INC&OBJECTIF, cluster(ape4) absorb(apey4 dep)
estimates store f_6
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* subsidized debt
reghdfe FINV4 FEMALE FINV3 FFINV3 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample&INOV_SUM&INC&OBJECTIF, cluster(ape4) absorb(apey4 dep)
estimates store f_7
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

* grants
reghdfe FINV4 FEMALE FINV5 FFINV5 AGED NATIOA1 EDUC2 EDUC3 GRANDEECO EXPERT SERIAL DIRIGA B2B GEOCLIA MOYENS_* ///
MOTIV1 MOTIV2 MOTIV4 MOTIV3 MOTIV5 MOTIV6 ///
if NAF4_crea_d5==0&sample&INOV_SUM&INC&OBJECTIF, cluster(ape4) absorb(apey4 dep)
estimates store f_8
estadd local controls "Yes"
estadd local year "Yes"
estadd local geo "Yes"
estadd local cap "Yes"
estadd local hc "Yes"
estadd local startup "Yes"
estadd local motiv "Yes"
estadd ysumm, mean

esttab f_1 f_2 f_3 f_4 f_5 f_6 f_7 f_8  /*
*/ using "${output}table_equity_otherfi.tex" /*
*/ ,replace booktabs label lines compress nocons collabels(none) nodepvars nomtitles nonumber fragment /*
*/ cells("b(star fmt(%9.4f))" "se(par fmt(%9.3f))") star(* 0.10 ** 0.05 *** 0.01) /*
*/ stats(hc startup cap motiv year geo r2 N ymean, fmt(0 0 0 0 0 0 %9.4fc %9.0fc %9.4fc) /*
*/ labels(`"Founders controls"' `"Startup characteristics"' /*
*/   `"Startup capital"' `"Motivations"' /*
*/ `" Sector $\times$ Cohort-year FE"' `"County FE"' /*
*/ `"R^{2}"' `"N"' `"Mean dep. var."')) /*
*/ order(FEMALE FINV1 FFINV1 FINV2 FFINV2 FINV3 FFINV3 FINV5 FFINV5 ) /*
*/ keep(FINV1 FFINV1 FINV3 FFINV3 FINV2 FFINV2 FINV5 FFINV5 FEMALE) 

